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Articles from Prosper Australia

The young can’t count; the young don’t matter

May 10, 2017 - 16:28 -- Admin

Last night’s federal budget included a fat gift to downsizing homeowners over 65 who can now put up to $300,000 from their house sale into superannuation, allowing many to keep their (part) pension and, most importantly, unlimited free healthcare. This stunning generosity to the asset-rich is in striking contrast to the Turnbull government’s behavior toward […]

Victoria gets annual land valuations

May 1, 2017 - 16:10 -- Admin

The Andrews government has announced State Land Tax will be calculated annually rather than every two years, a painless inexpensive reform Prosper urges all states to adopt. The Valuer-General’s assessment is used to calculate council rates and land tax. Valuers today use computer-assisted mass appraisal to determine what land is worth, so upgrading the biennial […]

Victorian Budget Submission

May 1, 2017 - 12:44 -- Admin

Preamble Prosper Australia welcomes the opportunity to contribute to the 2017- 2018 Victorian budget as a leading non-government economic research organisation highlighting the political-economy of land, natural resource and monopoly rents. This submission focusses on the role of State Land Tax (SLT), which is the fairest and most efficient tax, at a time when the […]

Missing the point on corruption

April 26, 2017 - 08:13 -- Admin

by Dr Cameron Murray reposeted from macrobusiness On Friday 28th April I am appearing and Queensland’s Crime and Corruption Commission’s Operation Belcarra as an expert witness on relationships between councillors and property developers, and how that leads to favouritism. A narrow focus What is interesting from my perspective is how narrow the focus of the […]

Should children play with interest-only fireworks?

April 20, 2017 - 14:30 -- Admin

Investor interest-only loans are a key risk factor threatening to destabilize Australia’s mountain of private debt, according to investment firm Standard Life Investments, a keen observer of interest rates. IO loans are often associated with thin equity buffers, risky investment strategies and the aggressive pursuit of capital gain over income. Standard Life says: “Much of […]

Turnbull Government prepares to squib on PRRT

April 18, 2017 - 10:52 -- Admin

The Petroleum Resource Rent Tax has been a successful revenue-sharing device since 1987, delivering well over $33 billion to Consolidated Revenue, derived entirely from the economic rents of resource extraction with no harm to producers. It has never deterred exploration or hindered output. Treasurer Scott Morrison commissioned a Treasury review by Michael Callaghan into why […]

“No Longer Politically Palatable”

April 14, 2017 - 16:51 -- Admin

by Bryan Kavanagh reposted from Mason Gaffney gives amazing chapter and verse in ‘The Corruption of Economics‘ about the people who successfully sought to conflate land and capital within the study of economics, in order to circumvent Henry George‘s popular late 19th century campaign to capture land rents to the public purse as an […]

Vacancy Tax Clarification

April 12, 2017 - 07:03 -- Admin

Prosper’s position on the Vacant Residential Property Tax (VPRT) was misrepresented on p6 of yesterday’s AFR. Our position on vacant property taxation is as follows. The Victorian VRPT will utilise the council rating base, with Capital Improved Valuation (CIV) the basis for charges. This could be a fundamental design flaw. CIV taxes land and buildings, […]